Three boys are walking home from school on the afternoon of Halloween. On the way home, one boy, Mark, agrees to help a strange old woman to get her cat, Lucifer, out of a tree. Mark climbs the tree, but falls and is knocked unconscious. When Mark wakes up, he discovers that the old woman is really a witch. The witch gives Mark a magic ring, and tells him that if he plants the seeds inside a magic tree will grow. On Thanksgiving, Mark performs the magic spell that the witch taught him, and a magicevergreen tree grows overnight in the back yard. Mark's father tries to cut down the tree, but to no avail. Later, on Christmas Eve, the Magic Tree comes to life, and grants Mark three wishes. The boy first wishes for one hour of absolute power, which he promptly abuses. Mark's second wish is to have Santa Claus all to himself. When Mark sees the unhappiness his selfishness causes, however, he uses his third wish to return Santa Claus to the children of the world. On Christmas Day, Mark wakes up, and realizes that the entire adventure was all a dream.